A stove is produced by a firm in 2014, added to the firm's inventory in 2014, and sold to a household in 2015 . It follows that
a. the value of the good is added to the investment category of 2014 GDP, added to the consumption category of 2015 GDP, and subtracted from the investment category of 2015 GDP.
b. the value of the good is added to the investment category of 2014 GDP, added to the consumption category of 2015 GDP, and not included in the investment category of 2015 GDP.
c. the value of the good is added to the investment category of 2014 GDP, subtracted from the consumption category of 2015 GDP, and not included in the investment category of 2015 GDP.
d. the value of the good is added to the investment category of 2014 GDP, subtracted from the consumption category of 2015 GDP, and added to the investment category of 2015 GDP.
a
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Paul runs a shop that sells printers. Paul is a perfect competitor and can sell each printer for a price of $300
The marginal cost of selling one printer a day is $200; the marginal cost of selling a second printer is $250; and the marginal cost of selling a third printer is $350. To maximize his profit, Paul should sell A) one printer a day. B) two printers a day. C) three printers a day. D) more than three printers a day.
To maximize its profit, a monopolistically competitive firm produces the output level at which ____
a. its price elasticity of demand equals one b. MR = MC c. ATC is minimized d. MR = AVC